NFL concussion claims hit $500 million in less than two years

More than US$500 million in claims were approved as of Monday under the NFL’s concussion settlement, nearly a decade earlier than league officials estimated they would reach that amount.

Claims administrators in the settlement released an updated report on the concussion settlement information website saying about $502 million had been approved in less than two years of the settlement.

The original actuarial estimates from the NFL estimated a little more than $400 million would be paid out in the first decade.

Attorneys for the retired players adjusted their estimates on the total payout of expected claims earlier this month, saying the settlement would likely reach $1.4 billion — almost a half billion more than the NFL originally estimated.

“We encourage all eligible former players to immediately sign up for a baseline assessment, and they can take comfort in knowing that compensation will be available for more than 60 years if they develop a qualifying condition,” said Christopher Seeger, co-lead class counsel for the former NFL players. “The fact that $500 million in claims have been approved in less than two years proves that this settlement is fulfilling its promise to former NFL players and their families.”

Almost 2,000 claims have been filed in less than two years, according to the update filed Monday.